Journal for Discounting
Trending Questions
Which of the following statements is not true?
The drawer and payee can be same person
A bill of exchange can be endorsed (i.e. passed on to another person)
Noting charges are expenses of drawer
The bill of exchange must contain an order to pay
On 1st January 2006, Vimal sold goods worth Rs. 20, 000 to Renu and drew a bill on Renu for 3 months. Renu accepted the bill and returned it to Vimal who discounted the bill with the bank on 4th February 2006 @ 15% p.a. The discounting charges will be:
Rs 750
Rs 500
None of the above
Rs 3000
On discounting of a bill of exchange with the bank, the amount of discount is borne by:
Drawer
Drawee
Payee
Bank
Discounting Charges =
None of these
Amount of Bill Discounted × Rate +Unexpired Period
Amount of Bill Discounted +Rate × Unexpired Period
Amount of Bill Discounted × Rate × Unexpired Period
A bill of Rs. 12, 500 drawn by Shyam is accepted by Ram. Shyam gets its discounted @ 12% p.a. due 3 months hence, the discounting charges borne by Shyam is :
Rs. 375
Rs. 250
Rs. 1, 000
Rs. 1, 500
A sold goods to B for Rs. 20, 000. A will grant 5 % discount to B. B requested A to draw a bill. The amount of bill will be :
Rs 20, 000
Rs 19, 000
Rs 19, 200
Rs 20, 200
Ram gets Mohan’s acceptance for Rs. 12, 000 discounted at 2 months at 12 % p.a. The amount of discount will be :
Rs. 80
Rs. 40
Rs. 240
Rs. 120
- Credited
- Debited
A shopkeeper gives successive discount of 15% and20%on a fridge dutidu christmas.if the selling price is₹8160, find the marked price of the fridge .
- ₹ 450
- ₹ 460
- ₹500
- ₹ 486